What Is a Balance Sheet for a Business? A Financial Snapshot

A woman holding a sheet of paper with a dollar sign above her head, questioning "what is a balance sheet for a business"

What is a balance sheet for a business? What does a balance sheet tell you about a business’s finances that an income sheet can’t? The balance sheet provides a snapshot of a company’s financial position at a specific time. Karen Berman and Joe Knight explain how balance sheets present your business’s overall value, what kinds of assumptions underlie your balance numbers, and what the balance sheet reveals about your business that a simple income statement cannot. Continue reading to learn the three main sections of a balance sheet and how to read one.

What Is Technology Addiction, and Is It a Real Issue?

A person surrounded by tablets, phones, and computers, showing what a technology addiction is

What is technology addiction? What are the three mechanisms of addiction? Technology addiction is a controversial concept, as some experts believe addiction requires the use of mind-altering substances. However, Adam Alter argues that, on a neuropsychological level, technology can be as addictive as any substance. Below we’ll break down what makes something an addiction to show how technology fits the definition.

What Is Splitting in Psychology? Seeing Only Saviors & Oppressors

A kind, smiling woman standing next to a harsh, unhappy woman illustrates the question, "What is splitting in psychology?"

Do you have a hard time telling if a person is good or bad? What is splitting in psychology? David Emerald explains that a helpless mindset shapes the way you see and relate to other people. With this mindset, you tend to view others as either oppressors or saviors, which is the psychological concept called “splitting.” Let’s take a closer look at splitting and the harmful effects of perceiving others as either extremely good or bad people.

The Biggest Health Concern of Using Technology: Addiction

A cellphone in a red circle, showing a health concern of using technology

How does technology affect a person’s health? Is it possible to get addicted to a smartphone? Adam Alter claims that, as of 2017, over 40% of people displayed symptoms of behavioral addiction to various forms of technology, ranging from common devices like smartphones to more niche technologies like high-tech eyeglasses. What’s worse is that this number is bound to increase. Keep reading to learn more about the biggest health concern of using technology: addiction.

Income Statements in Business: How to Understand the Numbers

A dollar sign on white paper representing an income statement in business

What’s an income statement in business? How does an income statement track revenue? The first document any business owner needs to understand is the income statement. This shows whether your company is profitable. According to Financial Intelligence by Karen Berman and Joe Knight, an income statement requires careful interpretation. Keep reading to learn what an income statement tells you about your business’s financial health.

Feeling Helpless in Life? 4 Traits of a Helpless Mindset

A person wearing a hooded jacket sitting on a bench and feeling helpless in life, set in a gloomy atmosphere

Do you feel helpless in life? Why do some people resort to seeing themselves as a victim of circumstance? David Emerald argues that many people suffer from a helpless mindset that prevents them from finding happiness, building lasting relationships, and achieving their goals. He claims there are four key characteristics of the helpless mindset: seeing yourself as a victim of circumstance, focusing on problems, responding to problems, and viewing others as either oppressors or saviors. Keep reading to learn about these characteristics of feeling helpless and out of control of your own life.

Financial Literacy for Business Owners: 3 Key Documents to Grasp

A businessman looking at a chalkboard with a dollar sign written on it as part of learning financial literacy for business owners

What are the basic financial terms you need to know as a business owner? What’s the difference between an income statement and a cash flow statement? Understanding your business’s finances requires making sense of different types of reports. Unfortunately, according to Karen Berman and Joe Knight, financial statements aren’t as straightforward as they may seem. Below, we’ll break down financial literacy for business owners who want to understand their company’s numbers.

8 Effects of Technology Addiction That Take a Serious Toll

A man alone at a party full of people, representing one of the effects of technology addiction by texting on his phone

What kind of negative impact does technology have on your life? How can technology lead to poor social skills? Adam Alter says that, if you have a behavioral addiction to technology, you use technology so much that it interferes with your ability to lead a healthy life. Habitually prioritizing tech use over other parts of life has cumulative negative effects on your well-being. Continue reading to learn about the negative symptoms and effects of technology addiction.

Embracing a Coaching Mindset: 5 Essential Traits

Two women looking at each other, embracing a coaching mindset

Why is a coaching mindset important? What are fundamental coaching traits? In order to attract clients and build your coaching business, you must adopt the mindset of a successful coach, Steve Chandler and Rich Litvin explain. This mindset comprises numerous traits, including self-assuredness, authenticity, focus, courage, and authority. Let’s explore what each trait looks like in the coaching context.